One in three college graduates lament their education choices, according to a survey released this week that finds substantial buyer’s remorse among student loan borrowers.
In a poll of 1,000 graduates, USA Today reported that 33% wished they had “taken a different approach” or not attended college.
That included 17% who wished they had attended a two-year community college, 10% who regretted not entering the workforce right after high school, 8% who felt remorse about not taking cheaper online courses and 8% who said they would have pursued an apprenticeship or fellowship if they could do it over again.
An additional 31% regretted not taking a gap year to explore other options after high school before jumping into a costly college program. That included 47% of Generation Z respondents, the youngest graduates.
While 72% of those surveyed agreed that college was “worth it despite the cost,” just 59% said the same of their federal student loans. The media outlet called that a “significant amount” of graduates, noting that 42.2 million Americans owe an average of $29,400 by the time they finish a degree.
“While the majority of graduates still feel their degree was a worthwhile investment, many are now questioning whether it was worth the financial burden of student loans,” said Jamie Young, managing editor of USA Today Blueprint, a project of the newspaper.
She noted that the poll also found that 46% of college graduates believe they could have landed their current jobs without a degree. That included half of millennials and 42% of Gen Z alumni participating in the survey.
USA Today also surveyed 1,000 adults who didn’t attend college. They cited financial constraints as their top reason for not going, followed by family obligations and a desire to explore a relationship or travel.
The findings arrive as workforce and finance experts have warned of a growing misalignment between higher education programs and the emerging tech-based job market.
In May, Georgetown University’s Center on Education and the Workforce reported that at least half the colleges in half the nation’s labor markets must reduce baccalaureate preparation in humanities and general studies to refocus on vocational training and attract students.
That report noted that a third of annual job openings through 2031 will require some credentialing or coursework, but not a degree.
Meanwhile, trade enrollments are booming, and a tight labor market driven by retirements has led employers to eliminate degree requirements for white-collar jobs that traditionally drew many graduates.
In this week’s USA Today survey, 59% of alumni with undergraduate degrees didn’t regret attending college compared with 76% of those with master’s and Ph.D.s.
Six in 10 of all graduates expressed satisfaction with the value of their programs in the arts and humanities; science, technology, engineering and math; and business.
That share dropped to just over half of graduates in social sciences and health and medicine who found their programs worth the expense.
According to USA Today Blueprint, 39% of graduates reported not using their degree in their daily job, “suggesting a disconnect between their education and their current job requirements.”
“With nearly half of graduates believing they could have obtained their current job without a degree and millions saddled with debt, this study highlights the growing need to evaluate the true return on investment of higher education,” Ms. Young said.
USA Today Blueprint commissioned Talker Research to survey 1,000 college graduates and 1,000 nongraduates from June 13-18. The margin of error was plus or minus 2.2 percentage points at the 95% confidence level.
• Sean Salai can be reached at ssalai@washingtontimes.com.